From US$ 1.1 billion in 2021 to US$ 1.2 billion in 2022, the global flight data monitoring and analysis market is expected to increase. During the projected period from 2022 to 2032, the market is estimated to reach US$ 2.7 billion, with a CAGR of 8.6%. The FDMA market is driven by rising demand for software to analyze flight data in the ground-based sector. Fuel consumption was improved, accident fatalities were reduced, maintenance costs were reduced, and aircrew training was improved by using FDMA.
Software is used in modern aircraft systems to improve performance, safety, and maintenance costs. The FDMA market is developing due to an increase in data security concerns, as well as an increase in blockchain systems, artificial intelligence, and machine learning projects. Due to an increase in demand for decreasing combat accidents to minimize either material losses or insurance costs in the fight business, FDMA has experienced a further boost in market growth.
Important Points to Remember:
- The global flight data monitoring and analysis industry is presently worth US$ 2.7 billion, with a forecasted CAGR of 8.6% over the next five years.
- Between 2022 and 2032, Japan is anticipated to grow at a CAGR of 11.4 percent.
- During the projection period, the civil flight data monitoring and analysis segment will rise at a CAGR of 9%.
- The market in China is anticipated to reach US$ 35.4 million by the end of the forecast period in 2032.
- During the projection period, the Brazilian market grew at a CAGR of 7.9%.
Flight Data Services Ltd., Scaled Analytics Inc., Aerobytes Ltd., Curtiss-Wright Corporation, and Teledyne Controls. LLCs are among the key players highlighted in the research. Customers will be able to get the most out of new technologies if companies develop innovative products and technology.